How finance directors are driving strategy

17 September 2018:

Last year Vanessa Simms, CFO of residential property group Grainger, produced a technology strategy for improving customer experience and efficiency across the FTSE-250 listed group.

The approach underlines the way in which finance leaders are increasingly driving their organisations’ strategic approach, exploiting the rich seam of information they hold to make the right decisions. “A lot of that is about insight and data and how you use that data to provide good quality information to therefore improve pricing,” says Simms.

“Traditionally a CFO has been about stewardship, performance management, whereas now I think fundamental to the role is being a good business partner, helping the business make the right decisions, and helping to execute strategy. I see that as fundamental to the CFO role,” she adds.

Rowan Baker, CFO of retirement housebuilder McCarthy & Stone, agrees with Simms. “Gone are the days when the CFO was just a custodian of all the financials within the business, I’m extensively involved in strategy working with the other members of the management team.

“A critical part of my job is ensuring everyone has the information that they need for those decisions that need to be taken, and to be the voice of reason behind them sometimes, to explain them and to flag potential problems and risks,” she says.